- Shiba Inu sees massive 263 billion token outflow from exchanges.
- Investor confidence returns as whales accumulate SHIB at lower prices.
- Exchange reserves drop while active addresses rise, signaling renewed activity.
Shiba Inu has recorded a major shift in on-chain activity after weeks of persistent sell pressure. According to data from CryptoQuant, about 263 billion SHIB were withdrawn from exchanges within the past 24 hours. The move has caught market watchers’ attention, signaling renewed investor confidence and suggesting that short-term selling may be losing momentum.
Exchanges have seen a net outflow of approximately 292 billion SHIB, while total exchange reserves dropped by 0.35 percent, leaving around 82.66 trillion SHIB still held on centralized platforms. Additionally, the number of active wallet addresses grew by nearly 1 percent, showing that holders are becoming more engaged once again.
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Accumulation Signs Emerge as SHIB Attempts to Stabilize
The withdrawals coincided with a modest rebound in SHIB’s price after a recent decline that pushed it below the $0.0000115 support level. Prices dipped as low as $0.0000095 before recovering slightly to the $0.0000104 range.
This pattern indicates that large holders, often referred to as whales, may be accumulating tokens at lower prices after the sell-off earlier in the month.
Technically, Shiba Inu continues to trade within a descending wedge structure. The 200-day EMA still acts as a resistance zone, with additional barriers near the $0.0000122 to $0.0000133 range.
Until these levels are broken, analysts maintain that the overall trend remains bearish. However, the growing outflows could help limit further downward movement by reducing selling pressure on exchanges.
Source: Tradingview
Investor Behavior Signals Renewed Confidence
Market sentiment also appears to be stabilizing. Many investors are shifting their holdings to self-custody, which often reflects growing long-term confidence. Compared to the early October decline, trading volumes are lighter, while the RSI remains in a neutral-to-oversold region. This combination suggests that the market is consolidating rather than entering a confirmed uptrend.
If the current accumulation trend continues, it could mark the first substantial reduction in exchange supply since the correction began. Maintaining this momentum may position Shiba Inu for a potential recovery, though reclaiming the $0.0000115 zone remains a critical step for any sustained bullish move.
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